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LAF
Tenancy: Fitness International, LLC
Building Size: 43,000
Renewal Options: Three 5-Year
Lease Expiration: 6/30/2034

New Single-Tenant LA Fitness:

Major recent capital raise from equity partners (Moody’s)

Corporately guaranteed lease with the largest health club operator in the

country (740+ locations)

NN lease with minimal landlord responsibilities, ideal for a passive investor

Low rent per square foot

LA Fitness experienced no club closures as a result of the pandemic

Dense Infill Position: In the heart of a mature built-out trade area with over 110K

people within 3 miles and over 100K households within 5 miles

Oversized 5-Acre Site with Ample Parking

Daily Needs Intersection: Ideally located directly across the street from a H-E-B

Grocery, providing great daily needs synergy

Higher Income Pocket: Average household income of $85,000 within a one-mile

radius

High Traffic location: Just off the corner of Gessner Drive and Kempwood Drive

with a combined 55,000 cars per day

New Home Developments: Approximately 1,000 brand new single-family homes

within 1 minute of the subject property

Ideally Situated Between 3 Major Arterials: This site is bordered by Interstate 10

to the south (375K CPD), Sam Houston Tollway to the west (171K CPD), and U.S.

290 to the north (197K CPD)

Lack of Competition: Competition within 2 miles is outdated and lacks amenities;

LA Fitness is the only full-service operator in this trade area

Booming Houston Proper Location:

Largest city in Texas and 4th most populous city in the U.S. (2.3 million residents)

Houston MSA is the 5th largest in the nation (population of 7.1 million)

4th in the nation in Fortune 500 companies and 3rd in Fortune 1000

Population expected to increase about 20% by 2029

Texas is a Tax-Free State: Ideal for an out-of-state investor

LAF

Listing Details


Address: 2740, Gessner Road, Houston, Texas, 77080

Price: $15,044,000

Cap Rate: Current - 5.65% | 2024 - 6.0%

Tenancy: Single Tenant

Status: Available